Is the capital gains hike legally binding? What it would take to change the rules.

The article discusses the proposed increase in the capital gains inclusion rate in Canada, which is set to take effect on June 25, 2024. The government has introduced a ways and means motion to increase the rate, and if passed, the new rate will be retroactive to June 25. However, there is a possibility that the legislation may not pass, in which case the inclusion rate will remain the same. The article also mentions the potential impact of a legal case against the government if the law doesn't pass, highlighting the importance of advance notice in tax policy. [Extracted from the article]